Downtown Fort Lauderdale on the rise

The 100 Las Olas team was pleased to host the Master Brokers Forum Gold Coast Chapter May 23rd reception.

Thank you to chapter Chair Carolyn Block Ellert for partnering with us and speaker Fort Lauderdale Downtown Development Authority President and CEO Jenni Morejon for presenting such valuable information.

The DDA stimulates and sustains economic development and livability by facilitating public and private investment in a world-class downtown.

 

Fort Lauderdale Downtown Development Authority President and CEO Jenni Morejon presents at the Master Brokers Forum reception at 100 Las Olas.

“We are a city on the rise,” said Jenni, pointing out the 24 cranes. “I look forward to partnering with all of you as we continue to grow Fort Lauderdale.”

She shared with the 40 attendees the following telling statistics on Downtown Fort Lauderdale:

  • Over the past 18 years, nearly 6.8 million square feet of office, retail, multifamily, and hotel space has been built in Downtown Fort Lauderdale.
  • Today, an additional 6.2 million is under construction, making Downtown Fort Lauderdale the latest redevelopment hotspot.
  • 3,102 businesses, 59,179 employees, 447 employee-to-resident ratio
  • 48 percent of downtowners age 25+ have a bachelor’s degree or higher
  • 54 percent of employees have a commute time under 30 minutes
  • With the Brightline train, commuters can travel to Miami or West Palm Beach in just 30 minutes and soon to Orlando in just two-and-a-half hours.
  • The DDA has a pilot program offering Freebee electric cars to shuttle people around downtown.
  • The downtown population has grown by an estimated 30 percent since 2010 to over 13,240 residents.
  • Thirty-seven percent of the population are ages 20-34.
  • Median household income is $64,055 and is forecasted to grow 3.33 percent.
  • Retail rent soared 84 percent in five years to $36.39 in 2018.
  • Hotel boom: 432 units delivered in 2018 and 440 under construction.
  • Fort Lauderdale was named among the top job markets in the United States in 2019 by WalletHub.
  • Fort Lauderdale ranked as No. 1 most searched location in the nation for relocations on MoveBuddha in June 2018.
  • About one-third of the households have children and two-thirds have pets.
  • Fort Lauderdale is one of the only cities in the state that has both a downtown and a world-class beach walking or scooter distance.
  • Last year, Congress approved $190 million for a new federal courthouse downtown.
  • The DDA is working with Broward County and the City of Fort Lauderdale on a joint 750,000-square-foot government campus. Jenni says this will encourage collaboration, increase efficiency, save taxpayer money, and free up valuable land. “We call ourselves matchmakers for governments.”
  • The Urban Land Institute national advisory panel is coming in October to help the DDA with a plan on parks and open spaces.

For more information about the Fort Lauderdale Downtown Development Authority, visit ddaftl.org.

Of 100 Las Olas, Jenni said: “That is truly the catalyst of what’s happening along Las Olas Boulevard and this is a vision that’s been in the works for decades so it’s really exciting to hear the phenomenal development that’s happening next door.”

OneWorld Properties is proud to be the exclusive sales agent for The Kolter Group’s 100 Las Olas in the epicenter of Downtown Fort Lauderdale. Since topping off at the end of 2018, it is tallest building in Fort Lauderdale at 499 feet.

The 46-level tower featuring 113 luxury condominiums and 238 Hyatt Centric rooms is slated to open in 2020.

OneWorld President and CEO Peggy Olin said the No. 1 buyers are residents of the western suburbs of Fort Lauderdale who are looking to sell their houses and move into condos downtown where they can walk.

The floorplans include two-bedroom residences at 1,811 square feet from the $800,000s, four-bedroom estates at 3,900 square feet priced at $3.25 million, and a two-story penthouse priced at $5.99 million.

“The way we see this building it’s an opportunity to buy something in the downtown corridor that’s really in the midst of a very important renaissance of this city,” said Sales Director of 100 Las Olas Catherine Kohn.

The 16th floor amenities exclusively for residents offer a resort-style pool, hot tub area, day cabanas, fitness center, private workout rooms, club room, and new and notes lounge.

“The hotel serves as an added amenity for the residents,” added Catherine.

To schedule a hard-hat tour, call 954-800-6263. The sales gallery is open from 10-6 Monday-Friday and 12-5 Saturday-Sunday at 200 E. Olas Blvd., Suite 150., onehundredlasolas.com.